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Reuben Neves Joins Al-Hilal at His Peak

Ruben Neves has finally landed in Riyadh to finalize his move to Saudi Pro League side Al-Hilal, and it is a move that seems to have attracted attention for one thing above all else: his age. The Portuguese international is undoubtedly a massive talent in his own right but, in terms of profile, he is not quite in the same bracket as fellow Pro League players Cristiano Ronaldo or Karim Benzema. What he does have, though, is time on his side to reach that level.
Business

“AI’s Impact on Enterprise Software Market: $14tn by 2030”

RIYADH: Generative artificial intelligence is set to expand the global enterprise software market from $1 trillion currently to $14 trillion by 2030, said Saudi Arabia’s minister of communications and information technology.  Speaking at the France-Saudi Investment Forum in Paris on Monday, Abdullah Al-Swaha said the massive growth in generative AI would present a considerable opportunity for collaboration between Saudi Arabia and France. 
Business

Saudi Property Market Performs Well in Q1 Due to Limited Supply: CBRE

RIYADH: Demand for offices remained strong in Saudi Arabia in the first quarter of 2023 as global and local businesses continued to scout for quality spaces in the key cities despite limited supply in the market, the latest report from global consultancy firm CBRE showed.   Most of the offices in Riyadh witnessed nearly 100 percent occupancy, resulting in Grade A and Grade B properties recording a year-on-year rise in average rental rates of 9.3 percent and 14 percent, respectively, in the first quarter.  
Business

PIF’s Jada to Boost Saudi Arabia’s Startup Scene

CAIRO: Saudi Arabia’s startup landscape has received a significant push after a subsidiary of the Kingdom’s Public Investment Fund committed to investing in several venture capital vehicles. PIF’s Jada Fund of Funds Co. plans to invest an undisclosed amount in Bahrain-based Investcorp’s $500 million Saudi pre-initial public offering growth fund. The investment vehicle is exclusively focused on supporting a diverse range of companies based in Saudi Arabia during their pre-IPO stage.
Business

Bank of China to launch in Riyadh in 2021, confirms official

RIYADH: In yet another sign of increasing cooperation between the world’s second-largest economy and the Arab world, the Bank of China is set to open its first branch in Riyadh later in 2023, reported Asharq. It quoted Jun Tian, head of the team for the launch, as saying that the bank’s branch in the Saudi capital is expected to begin operations by the end of October or at the beginning of November.
Business

“Chinese Delegates View Riyadh Conference as Chance to Strengthen Ties”

RIYADH: Business professionals from China are optimistic that events like the Arab-China Business Conference will help strengthen economic ties between the world’s second-largest economy and the region. They urged Chinese companies to explore opportunities in the Arab world particularly Saudi Arabia, as the Kingdom is rapidly transforming into an economic powerhouse. Lin Shunjie, chairman of China International Exhibition Center Group, told Arab News that his visit to the Kingdom had opened doors of new business opportunities between his country and the Arab world.
Business

Intella moves HQ to Saudi Arabia amid AI boom.

CAIRO: Speaking exclusively with Arab News, Nour Taher, CEO and founder of the company, said Intella has begun relocating its headquarters to the Kingdom after gaining massive traction in the country.  The move is evidence of how Saudi Arabia is making strides in the field of artificial intelligence and positioning itself at the forefront of the AI revolution in the Middle East.  “Saudi is becoming a hub for tech companies, and we plan on playing a core role in the Saudi tech ecosystem,” Taher said. 
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US-led coalition downs Houthi missile and drones in Red Sea

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ATHENS: A Greek military vessel serving in the European Union’s naval mission in the Red Sea intercepted two drones launched by Yemen’s Houthi militants toward a commercial ship, officials at the Greek Defense Ministry said on Thursday. “On Thursday morning Greek frigate Hydra, while it was escorting a merchant ship in the Gulf of Aden, fired at two drones,” an official told Reuters. “It destroyed one while the second moved away,” he added. Another defense official confirmed the details of the incident.

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China concerned over EU raids on security equipment company

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